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Agriculture > products
bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited |
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Aid as % of GDP
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5.7% |
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[45th of 129]
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Debt > External
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$213,000,000.00 |
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[22nd of 136]
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Economy > Overview
The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Tourism has increased as the government seeks to promote Dominica as an "ecotourism" destination. In 2003, the government began a comprehensive restructuring of the economy - including elimination of price controls, privatization of the state banana company, and tax increases - to address Dominica's economic and financial crisis of 2001-02 and to meet IMF targets. This restructuring paved the way for the current economic recovery - real growth for 2006 reached a two-decade high - and will help to reduce the debt burden, which remains at about 100% of GDP. In order to diversify the island's production base, the government is attempting to develop an offshore financial sector and is researching Dominica's capability to export geothermal energy. |
Exchange rates
East Caribbean dollars per US dollar - 2.7 (2004), 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000) |
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Exports
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$94,000,000.00 |
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[176th of 189]
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Exports to US
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$400,000.00 |
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[187th of 224]
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GDP
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$299,814,800.00 |
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[165th of 203]
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GDP (purchasing power parity)
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$648,000,000.00 |
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[184th of 187]
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GDP > PPP
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$401,000,000.00 |
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[163rd of 163]
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GDP > Real growth rate
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0.9% |
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[179th of 198]
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GDP growth > annual %
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6.4 annual %
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[54th of 187]
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GDP per capita, PPP > current international $
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6,206.25 PPP $
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[84th of 169]
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Gross National Income
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$230,193,000.00 |
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[162nd of 172]
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Gross national income > constant LCU
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520492700 |
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Human Development Index
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0.783 |
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[70th of 178]
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Inflation rate (consumer prices)
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2.7% |
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[135th of 192]
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Population below poverty line
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30% |
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[21st of 46]
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Technological achievement
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0.24 |
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[52nd of 68]
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Tourist arrivals
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65,000 |
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[128th of 152]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; US Census Bureau; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; United Nations Development Program. Human Development Report 2001. New York: Oxford University Press,2001, Table A2.1. via ciesin.org; United Nations World Statistics Pocketbook and Statistical Yearbook
ALTERNATIVE NAMES:
Dominica, Commonwealth of Dominica, dom. rep.
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